Isometric, a carbon removal registry and science platform based in the U.K., has announced seed funding of $25 million. This funding round was led by – Lowercarbon Capital and Plural.
The round was also participated by Lowercarbon Capital and Plural with angel investors Niklas Zennström (founder of Skype), David Helgason (founder of Unity Technologies), Ross Mason (founder of MuleSoft) and Ilkka Paananen (founder of Supercell).
According to Isometric, it plans to launch a science platform and build an independent registry for CDR. It claims this will benefit the CDR industry by open-sourcing vital information and setting higher merits for the quality of CDR credits.
Isometric’s Science Platform
The science platform will be usefull for suppliers. They can host and view their initial processes, removal data, and protocols transparently and consistently.
Isometric’s Registry
Isometric has based its registry on four pillars. These are –
Scientific rigor – using the most recent tools of science, Isometric will make it easy to do the following –
Determine total negativity, durability, uncertainty, and additionality over a varity of diverse carbon removal processes. This allows for a potent quality of credits.
Transparency – Isometric has data “open for inspection in real-time by the scientific community.” With advancing science, versioning enables keeping up with changes in the ecosystem. Its platform is created on completely detectable data of carbon discharge to establish trust and accountability.
Incentive alignment – The company does not sell or broker the sale of carbon removal tonnes. It charges the buyers and not the suppliers. Its concept is to cost a single flat fee per offtake or purchase. The will include costs for developing protocols, verifying removals, and issuing credit.
Collaboration – Isometrics will harness the expertise of the scientific community and other partners in the field of sensor development, physical inspection, auditing, earth system modeling and data analysis to verify deliveries.
Founder and CEO at Isometric, Eamon Jubbawy, said, “There are two non-negotiable challenges for the human race over the coming decades: first, decarbonize our economy; second, scale carbon removal. I decided to build Isometric as the critical missing piece of infrastructure required to scale carbon removal.”
